| Schedule of Changes in Contract Asset and Liability |
Changes in the Company's contract liability for deferred franchise and regional development fees during the years ended December 31, 2020 and 2019 were as follows:
|
|
|
|
|
|
|
Deferred Revenue
short and long-term |
| Balance at December 31, 2018 |
$ |
13,609,463 |
|
| Recognized as revenue during the year ended December 31, 2019 |
(2,595,394) |
|
| Fees received and deferred during the year ended December 31, 2019 |
4,093,207 |
|
| Balance at December 31, 2019 |
$ |
15,107,276 |
|
| Recognized as revenue during the year ended December 31, 2020 |
(2,977,604) |
|
| Fees received and deferred during the year ended December 31, 2020 |
4,374,442 |
|
| Balance at December 31, 2020 |
$ |
16,504,114 |
|
Changes in the Company's contract assets for deferred franchise and development costs during the years ended December 31, 2020 and 2019 were as follows:
|
|
|
|
|
|
|
Deferred Franchise and Development Costs
short and long-term |
| Balance at December 31, 2018 |
$ |
3,489,211 |
|
| Recognized as cost of revenue during the year ended December 31, 2019 |
(811,731) |
|
| Costs incurred and deferred during the year ended December 31, 2019 |
1,715,253 |
|
| Balance at December 31, 2019 |
$ |
4,392,733 |
|
| Recognized as cost of revenue during the year ended December 31, 2020 |
(850,912) |
|
| Costs incurred and deferred during the year ended December 31, 2020 |
1,696,486 |
|
| Balance at December 31, 2020 |
$ |
5,238,307 |
|
|
| Schedule of Revenue Expected to be Recognized Related to Performance Obligations |
The following table illustrates revenues expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of December 31, 2020:
|
|
|
|
|
|
| Contract liabilities expected to be recognized in |
Amount |
| 2021 |
$ |
3,000,369 |
|
| 2022 |
2,671,594 |
|
| 2023 |
2,369,976 |
|
| 2024 |
1,894,088 |
|
| 2025 |
1,677,554 |
|
| Thereafter |
4,890,533 |
|
| Total |
$ |
16,504,114 |
|
|